Effective May 1, the Virginia minimum wage will increase to $9.50. SB 7 increases the minimum wage from its current federally mandated level of:
- $7.25 per hour to $9.50 per hour effective May 1, 2021;
- to $11.00 per hour effective January 1, 2022;
- to $12.00 per hour effective January 1, 2023;
- to $13.50 per hour effective January 1, 2025; and
- to $15.00 per hour effective January 1, 2026.
For January 1, 2027, and thereafter, the annual minimum wage shall be adjusted to reflect increases in the consumer price index. The measure provides that the increases scheduled for 2025 and 2026 will not become effective unless reenacted by the General Assembly prior to July 1, 2024.